TRUE Private Wealth Advisors Sells 1,005 Shares of Alphabet Inc. (NASDAQ:GOOG)

TRUE Private Wealth Advisors lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,079 shares of the information services provider’s stock after selling 1,005 shares during the period. TRUE Private Wealth Advisors’ holdings in Alphabet were worth $2,548,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Financial Advisors Network Inc. grew its holdings in shares of Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after acquiring an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. grew its holdings in shares of Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares in the last quarter. West Michigan Advisors LLC grew its holdings in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares in the last quarter. Somerville Kurt F grew its holdings in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC grew its holdings in Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after purchasing an additional 16 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GOOG. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $159.86.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $157.46 on Friday. The company’s 50 day simple moving average is $147.35 and its 200 day simple moving average is $141.72. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now owns 9,291 shares in the company, valued at $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 over the last 90 days. 12.99% of the stock is owned by insiders.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.